What is an “affordable” assisted living?
Other than cost, no distinction should be drawn between affordable assisted living and market rate assisted living. Affordable Assisted Living then, in its simplest terms, is assisted living that people can afford based upon their incomes. In Iowa, over fifty percent of the elderly cannot afford what is currently available on the assisted iving market. Market rate assisted living programs were not purpose-built as affordable properties and therefore have capital and staffing costs that adversely impact their ability to offer rents and services at levels allowing very low- income tenants to qualify for assistance under state and federal health care and rent subsidy programs. By combining a variety of public and private funding sources, affordable assisted living developers have been successful in decreasing capital expenses to a level that allows them to charge rents that qualify clients for rental assistance programs. Health care entities with expertise in accessing health care program